Cars com Inc (CARS) Receives a Hold from Benchmark Co.
In a report released today, Daniel Kurnos from Benchmark Co. maintained a Hold rating on Cars com Inc (CARS). The company’s shares closed yesterday at $23.16.
“We are cutting our numbers to reflect what we believe is closer to a realistic medium-term forecast given the recent dealer attrition, which should also provide a better middle-of-the-road scenario for valuation purposes. While we do see the potential for a sale in the high $20 to low $30 range, we believe the buyer pool could be limited by Cars’ lack of growth, with an ultimate sale to either a strategic or private equity far from a certain thing.”
According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 9.5% and a 53.6% success rate. Kurnos covers the Services sector, focusing on stocks such as Nexstar Media Group Inc, Booking Holdings Inc, and Sinclair Broadcast.
Cars com Inc has an analyst consensus of Moderate Buy, with a price target consensus of $31.
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Based on Cars com Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $15.8 million. In comparison, last year the company had a net profit of $152 million.
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Cars.com, Inc. engages in the provision of automotive products and services through online automotive classifieds. It offers a digital automotive marketplace search engine which connects buyers and sellers. It also sells online subscription advertising products to car dealerships.